Oschadbank has suspended the import of foreign currency following an incident in Hungary
Oschadbank has temporarily suspended the import of foreign currency into Ukraine following the detention of cash collectors in Hungary.
This was announced by the bank’s CEO, Yuriy Katsion.
According to him, amid the war, ground logistics remain the only way to deliver cash, as air transport is unavailable. At the same time, demand for foreign currency in Ukraine remains consistently high.
Currently, the National Bank of Ukraine is meeting market needs using its own reserves, but the situation requires a solution, as the financial system needs regular cash replenishment.
Katsion noted that the transportation of currency and bank metals was carried out under an international agreement with Raiffeisen Bank International, which has been in effect since 2020. Oschadbank is the only Ukrainian commercial bank with a valid license to transport such cargo through EU territory.
Following the incident, the bank suspended transport operations and is working to identify new secure routes, taking into account the risks that emerged during the events in Hungary.
The Hungarian National Tax and Customs Administration handed over the previously detained cash-in-transit vehicles to Oschadbank representatives and Ukrainian diplomats.
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